Entrepreneurship, Business analysis, and or Management

Entrepreneurship and its Importance

Entrepreneurship is the process of igniting, building up, and managing a new establishment which is normally a small businesses aimed to be nurtured into a larger one. The people who create these business conceptions are known as entrepreneurs. Invariably, entrepreneurship has been stated to be the readiness and ability to manage, build and attain a commercial illusion in the midst of the dangers that proceeds an attempt to make profits. In various definitions, scholars often bank on the plan of launching and managing a business establishment. Every person has to meet with a high risk within the process of commencing every venture. Majority of enterprises are often closed down because of poor management, insufficient funding, economic crisis, bad business decisions, lack of customers or markets and even the combination of all the above factors. Entrepreneurship experience is often acquired in diverse ways, there are individuals who obtain it through undergoing academic works while other obtain it through experience in doing various businesses. Some individuals are born in the family where people are sole entrepreneurs, they grow, develop their businesses and follow the same suit. In such families, business usually becomes the occupation of every member. On the other hand, there are people who develop a self-interest in business, they take the risk in launching one or more ventures, runs them and become successful in the long run. Entrepreneurship, business, and management are related and the venture capitalists or businessmen need to possess all the three skills in order to run a successful venture.

Application of Entrepreneurial Skills

Application of entrepreneurial job or course requires basic skills that are essential in conducting business. I was exposed to business and entrepreneurial activities at a tender age when I was growing up, I used to assist my father, a great capitalist and a businessman who owned several ventures. When in business, I realized that business requires substantive ideas that should focus on the future survival of the business. I was also trained by my father on how to take the risk in order to start a successful business, a characteristic possessed by each entrepreneur. Entrepreneurship can simply be defined as starting and running a small or big business, but in most cases, there is always a sharp difference between an entrepreneur and the business owner and the definition of both depends on an individual understanding and experience. During my stay at my father's investment, I learned that there is a difference between entrepreneurship and business management, and this makes me be in a position to take a course in business, entrepreneurship and or management. I have the practical aspect and I am able to handle the challenges that come with running a business venture. I am all well equipped with different business ideas including the skills of formulating ideas on starting a business idea. The main difference between the business operator is business owner wholly depend on the attitude and personal experience.

Managing Business Risks

I have the skills in managing the risks that are often experienced in every business. Most of the business owners do not usually have the right skills of tackling the challenges that normally exist in a business venture. My father, being a graduate in entrepreneurship and possess reputable experience in the same, trained me on how to avoid and handle the risk that often occurs in the course of running the business. Out of the above training, I now have the right skills that can readily be applied in any form of business opportunity with the aim of running a successful business. From my experience, I understand that entrepreneurship is wider than the idea of creation and management of a business venture. In most cases, it is a mindset, the way an individual act and think; it is often about formulating unique ways of solving problems as well as creating value. Passion is always the main drive towards entrepreneurship, I possess the interior stamina and fuel capacity of driving actions, the unique energy often enables me to surpass and overtake various challenges, and it provides strength to continue pursuing objectives in the times of difficulties. Most businesses usually close down due to challenges that cannot be overcome by ordinary skills in entrepreneurship. During my internship at my father's business, I acquired several skills in dealing with workers and meeting their demands with an aim of making the business operation successful. I have strong collaboration skills and I am able to work together with other employees in order to make a business run successfully. If given chance in any organization, I will be able to deliver, I will also be capable of starting a various related business, a situation that will increase profits to an organization. The main aim of starting a business is to make or increase the profits.

The Role of Sports in Entrepreneurship

Despite the entrepreneurial and business management skills, I often engage in sports. I do all kinds of sports where I also acquire a lot of collaboration and interactive skills. Business requires attracting more customers by being popular, a situation that requires involvement in sporting activities. Sports improve individual social skills, a scenario that is important in the management of the business. An entrepreneur is an individual who can utilize any idea be it service or product and have the skillset, courage, and will to take the essential risk to turn an idea into a reality. Sports facilitate the development of entrepreneurial skills by turning it into a profit-making entity. When I won MVB in both volley and soccer, I realized that sports are not only for entertainment and specialization but also an avenue for doing business with an aim of making profits. Winning titles comes with honors and money capable of boosting morale and courage for an individual. I am therefore an individual with various skills capable of handling various work challenges be it business management, formulation of the business idea, management of workers, developing skills required to start and run a successful business and organization of business processes.

Conclusion

The above skills and abilities make me suitable to take part in any business and social activity. I am therefore interested in discovering unique cultures and especially in the United States of America with an aim of applying my skills to influence both the people and the operation of various businesses. I understand that the United States of America is a unique environment rich in cultural diversity; it is a unique environment where business ideas, as well as entrepreneurial skills, can be put into practice; it is also an environment where there exist a lot of skills and opportunities for the people who have the skills or those who are willing to gain necessary expertise in various fields.